Dish TV's Q4 FY16 revenues up 12.6% on subscriber additions & higher ARPU

Dish TV India has reported consolidated subscription revenues of Rs 7,410 million in the fourth quarter ended March 31, 2016, up 12.6 per cent Y-o-Y and operating revenues of Rs 7,993 million, up 9.5 per cent Y-o-Y.

EBITDA for the quarter stood at Rs 2,608 million, compared to Rs 2,209 million in the corresponding quarter last fiscal. EBITDA margin was recorded at 32.6 per cent, compared to 30.3 per cent. Profit after tax for the quarter was Rs 4,828 million as against Rs 349 million in the corresponding quarter last fiscal.

The DTH operator reported 508,000 net subscriber additions during the quarter, closing net subscriber base of 14.5 million.

Average Revenue Per User (ARPU) stood at Rs 174, compared to Rs 172 in Q3 FY16.

Fiscal 2016 consolidated revenues stood at Rs 30,599 million, recording a growth of 13.8 per cent over the previous fiscal. EBITDA of Rs 10,249 million was up 39.8 per cent Y-o-Y. EBITDA margin was recorded at 33.5 per cent in FY16 as against 27.3 per cent in FY15. Net profit for the year was Rs 6,924 million, including deferred tax expense of Rs 4,360 million.

Dish TV’s subscription revenues for FY16 was reported at Rs 28,275 million, up 15.4 per cent Y-o-Y. ARPU stood at Rs 174 in FY16, compared to Rs 168 in FY15.

Q4 FY16 and FY16 numbers are not comparable on a Y-o-Y basis due to the impact of increase in service tax to 14.5 per cent, from 12.36 per cent, with effect from August 2015.

Talking about subscriber additions during the quarter, Jawahar Goel, Chairman & Managing Director, Dish TV, said, “We had a well defined plan in place to target these markets. Our campaign ‘Set-Top-Box Matlab Dish TV’ had the desired impact, while the specially designed sports packs ensured that sports fans didn’t go elsewhere during the cricket season. Higher investments behind the brand not only ensured higher brand scores, but a stronger brand recall as well. To further strengthen our connect with the customer, we upgraded our existing service infrastructure and enhanced distribution in areas that were not up to the mark. Thus, covering newer territories.” 
Commenting on the fourth quarter results, Goel said, “Healthy subscriber additions and a higher ARPU improved the subscription revenues by 12.6 per cent over the corresponding quarter last fiscal. EBITDA of Rs 2,608 million recorded an 18.1 per cent jump over the corresponding quarter. Net profit for the quarter was Rs 4,828 million as against Rs 349 million in the fourth quarter last fiscal. The resultant free cash flow was Rs 1,047 million. Churn for the quarter remained steady at 0.7 per cent per month.”

Dish TV has been working on ways to connect with newer audiences in the country and has taken its entire range of products and services to popular online e-commerce platforms like Paytm, Snapdeal, Amazon and Flipkart.

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